Ashmore Group, the emerging markets-specialist asset manager, turned in a strong performance for the 12 months to June 30, with pre-tax profits up by 49% to £196m (€247m), as investors continued to commit to its funds despite the market turmoil.

However, Ashmore warned that since that date new subscriptions to its products have been lower and there have also been redemptions, meaning its total assets under management will have contracted slightly from the $37.5bn figure posted at the end of June.